At today's auction soy quotes again showed an increase. Higher prices for oil crops due to the high demand for U.S. supplies in anticipation of the USDA February report publication. In the latest forecast balance, which will be released today, analysts may report lower soybean stocks in the United States to 9-year lower.
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Contracts for March delivery rose in price by 0.5% to 14.94 dollars per bushel (27.2 kg) on Chicago Mercantile Exchange CBOT.
Export crop sales for season 2012-13 rose by more than 2-fold, to 896 166 tons in the week ended Jan. 31, compared with the previous period. In addition, 771,040 tons were sold for delivery in the next MY, which will begin on September 1. The country was the world's largest producer and exporter of oilseeds in the past year, said informer "tradekeynews."
Stocks of soybeans in the U.S. may drop to 3.5 million tons by August 31 of this year, before the next crop harvest. This is less than 3.6 million tons; USDA predicted this a month earlier.